UPDATE: 23XI/Front Row have dismissed court proceedings with Liberty Media (Formula 1) in trying to compel compliance with their subpoena for F1 financial info. Either the teams settled and got some info or just dropped this quest. Other cases against INDYCAR, NFL, NHL, NBA continue.
23XI/Front Row have dismissed court proceedings with Liberty Media (Formula 1) in trying to compel compliance with their subpoena for F1 financial info. Either the teams settled and got some info or just dropped this quest. Other cases against INDYCAR, NFL, NHL, NBA continue.
— Bob Pockrass (@bobpockrass) May 7, 2025
Original post 4-10-25: As the discovery process in the antitrust lawsuit brought by 23XI Racing and Front Row Motorsports continues, the teams want a Colorado court to force Liberty Media to comply with a subpoena to produce financial information.
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Liberty Media owns Formula 1. There are no charters in Formula 1, however, there is a Concorde Agreement that originated in the 1980s, and has been frequently updated since. It is a contract between the race teams, the FIA, and Formula 1 covering how the sport is run from a commercial standpoint.
23XI and Front Row want to see documentation from January 1, 2016, through December 31, 2024. Those dates coincide with when Charter Agreements were first introduced in NASCAR.
The information they’re seeking includes:
- The percentage and types of revenue shared with or among league and teams
- The formula for splitting each category of revenue among the teams and league
- The amounts of revenue shared with or restrained by the league and the teams
- Documents that show the valuations of expansion or current teams
- The League Constitution, by-laws, and collective bargaining agreement
— Racer —